The main factors that account for economic growth are increases in the workforce or in the amount of productive capital in the economy. A far smaller contribution is made by improvement in productivity as a result of innovation. Since mid-2009 the British economy has grown. But this is wholly accounted for by growth in the […]
Posts under ‘Industry’
Strip the private banks of the power of money creation
Nov 23rd, 2014 by Michael Meacher.The House of Commons held a very important debate this last week on the creation of money, a process which the Big 4 banks have monopolised and thus privatised the money supply. The abuse of this power over the last 3 decades has been enormous, and I used this debate to propose an entirely […]
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How not to criticise space travel
Nov 13th, 2014 by Phil Burton-Cartledge.What a stupendous achievement. The landing of a space probe on comet Churyumov-Gerasimenko 300 million miles from Earth is one for the history books, up there with the first space flight, Moon landing, and interplanetary mission. Sure, the Philae lander might be sliding about the surface a tad but nonetheless this is a triumph of […]
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The economy, the state and my crisis of faith
Nov 5th, 2014 by Daniel McAteer.Last week I had a crisis of faith in Labour. Looking at the Scottish polling, it looks as if Labour’s journey back to government may be longer and harder than we thought. Yet that is not what caused my questions to synchronise into a cacophony of doubt. My worries are for what happens if we do get […]
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Labour must outflank the SNP from the Left
Oct 25th, 2014 by Neil Findlay.This article was written prior to the resignation of Johann Lamont and is reposted here because it is a clear political statement by someone who many on the Left in Scotland would like to see as the next leader of Scottish Labour, and covers the same ground as Neil’s speech to the Campaign for Socialism conference […]
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Near-universal call for industrial recovery blocked by 3 party austerity obsession
Sep 16th, 2014 by Michael Meacher.A YouGov poll this week says 85% want the next government to promote a stronger UK manufacturing base, with 62% believing it will give the country more economic security. They’re absolutely right of course, and that is the centrepiece of my book The State We Need: Keys to the Renaissance of Britain. But it isn’t going […]
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Where’s accountability over Shaun Wright, Rotherham child care, police apology 3 years late?
Sep 3rd, 2014 by Michael Meacher.I never expected, having called for bankers, doctors, business executives, MPs, police, media to be held to account for serious wrongdoing by sacking and/or prison in the worst cases, that the imperative for such accountability would be so quickly manifested. On 26 August Sir Bernard Hogan-Howe, the Metropolitan Police Commissioner, was finally forced to apologise, […]
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The SNP vision of a deregulated Scotland is reason enough to vote No
Aug 26th, 2014 by Richard Leonard.Vision is essential in politics. It illuminates the possibility that things could be different, better and inspires people to not just believe in change, but to be driven to do something about it. That’s why it will play a big part in determining the outcome of next month’s referendum on the question of a separate […]
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Holding public figures to account must lead to prison in worst cases
Aug 25th, 2014 by Michael Meacher.Once again it is instructive how they do things in the US, the citadel of capitalism, which is so very different from the secretive British State which protects its elites even from their worst wrongdoings. The Bank of America has just been fined $16.7bn for misleading investors in its mortgage-backed securities, a colossal sum which […]
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Time for Labour to speak out on corporate governance
Aug 23rd, 2014 by Michael Meacher.Whilst the economic debate surges around austerity, recession and claims of recovery, it’s remarkable that next to nothing is being said about the flaws of corporate governance. As a result the dominant theme of shareholder value is accepted almost without question. Yet it is deeply compromised both in theory and in practice. Most obviously it […]
